We are excited to share National CooperativeRx is distributing $9.5 MILLION to our members for patronage, retired equity, rebate true-up, and audit recoveries in 2022.
Our Cooperative values transparency and puts members at the center of every decision we make. Therefore, we return 100% of rebates, 100% of claims audit recoveries, and excess revenue to our members.
What is National CooperativeRx Distributing to Members?
2021 Patronage Dividend: $829,679
2020 Rebate True-Up: $7,860,200
2020 Claims Audit Recoveries: $277,676
2014 & 2015 Retired Equity: $538,312
As a not-for-profit Cooperative, we are pleased to return excess revenue in the form of patronage dividends to our membership. This patronage dividend was declared by our Board of Directors after review of the 2021 financial audit. Additionally, we go the extra mile to assure our members are receiving 100% of discounts and prescription rebates. To uphold our pricing guarantees and contract terms, independent auditors also conduct a claims audit annually. All recoveries are returned to members. Lastly, all members of National CooperativeRx in 2014 and 2015 will receive retired equity attributable to those years. Our Board of Directors voted to retire this equity based on the Cooperative’s strong financial performance.
Members of National CooperativeRx are seeing positive returns on their pharmacy benefit investments. This wouldn’t be possible without the power of our membership size. Thank you, members and partners, for your continued support. We look forward to passing along continued financial benefits next year.